Well into President Joe Biden’s article calling for bipartisan action to rein in some of Big Tech’s businesses practices, he mentions his “vision” of the economy and how to “realize” that vision. Although his concerns hold support from select members of both parties in Congress, the actions of market participants — by the numbers — cast these perceptions in a different light.
Pursuing greater regulation of Big Tech will only further that divide between the private and public spheres’ visions by handicapping the innovators that have provided the largest benefits to the digital landscape. Rather than meddling with tech companies’ business models from the top down, policymakers should restrain their crackdown and let consumers use their dollar to hold firms accountable for their business practices.
Published in its entirety in Medium.